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Definition of a complaint

Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, which:

  • Alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience and 
  • Relates to an activity of that respondent, or of any other respondent with whom that respondent has some connection in marketing or providing financial services or products, which comes under the jurisdiction of the Financial Ombudsman Service (FOS) in the UK and the Monetary Authority of Singapore (MAS) in Singapore.

Definition of a complainant

The applicable definition of 'eligible complainant' is contained in the FCA Handbook. It is important that managing agents refer to that definition but in summary, 'eligible complainants' are:

  • A consumer
  • A micro-enterprise which employs fewer than 10 persons and has a turnover or annual balance sheet that does not exceed €2 million
  • A charity which has an annual income of less than £6.5 million at the time the complaint is made
  • A trustee of a trust which has a net asset value of less than £5 million at the time the complaint is made
  • A person acting for purposes which are outside that person’s trade, business or profession
  • A small business which is not a micro-enterprise and has and has an annual turnover of less than £6.5 million and employs fewer than 50 persons; or has a balance sheet total of less than £5 million
  • A guarantor

Application of Lloyd’s procedure and local complaint regulations

All valid Lloyd’s insurance policies written. It is Lloyd’s understanding that there are no local complaints handling rules which apply to Lloyd’s. However, as a member of the General Insurance Association (GIA) in Singapore, both Lloyd’s Asia and its Service Companies are expected to adopt the GIA code of practice ( It remains the Managing Agent’s and Service Company’s responsibility to ensure all local requirements are met, where applicable, in all territories in which they write business.


This is a two stage process. Lloyd’s expects that an acknowledgement is provided to the complainant within 5 business days where possible.

Stage One

The managing agent or their representative has 14 calendar days from receipt of the complaint to issue their stage one response. Stage Two If the complainant remains dissatisfied they can contact Lloyd’s Asia who will escalate the matter to Lloyd’s Complaints team.

Stage Two

If the complainant remains dissatisfied they can contact Lloyd’s Asia who will escalate the matter to Lloyd’s Complaints team. The complaints team will aim to issue a final response within 8 weeks of receipt of the complaint. If the complaint remains unresolved, the complainant may refer their complaint directly to an appropriate external dispute resolution in Singapore (EDR) or the Financial Ombudsman Service in the UK.

EDR scheme and eligibility

A) Financial Industry Disputes Resolution Centre Ltd (FIDReC).


36 Robinson Road


City House

Singapore 068877


Fax: (65) 6327 1089

FIDReC handles claims between consumers who are individuals or sole-proprietors and insurers with a value of up to SGD 100,000.

B) Mediation (Singapore Mediation Centre)

Singapore Mediation Centre

1 Supreme Court Lane, Level 4

Singapore 178879

Tel: (65) 6332 4366 / Fax: (65) 6333 5085


Where claims are small, expensive and prolonged litigation can exhaust time and resources, mediation may be the solution to take control of the outcome of these disputes in a timely and cost-efficient manner.

C) Arbitration (Singapore International Arbitration Centre)

Singapore International Arbitration Centre

32 Maxwell Road

#02-01, Maxwell Chambers

Singapore 069115

Tel: (65) 6221 8833

Fax: (65) 6224 1882

Any dispute, difference or question which may arise at any time hereafter in relation to true construction of the policy or the insurer respective rights or liabilities under this policy, will be referred to arbitration in Singapore and Singapore laws will apply. The arbitration will be heard by a single arbitrator to be agreed by the insurer and the policyholder within 14 business days of the commencement of the arbitration.

Lloyd’s Complaint Notice

The complaints notice for Singapore is available on This will be published on the Lloyd’s Wordings Repository and referenced in the Pre contractual notification and Insurance documents sections of Crystal.